why cant i save money when i make over 30 dollars an hour? is my wife really helping with the managing?

Answer 1

It doesn't really matter how much money you make when it comes to saving it. You need to sit down and take a long look at how you're spending your money, your habits, your lifestyle. It's very easy to spend almost any salary and have very little left to save. Perhaps you're living beyond your means.

Answer 2

Hmm. That sounds like a good reason for a trip to the local financial organization, find a free one. My God, what job do you have, I'll switch. I could buy a new house in 2 yrs cash with that kind of money. OK. 2 lists. One in the in's the other the out's if the out's are bigger than the in's you are in debt. With your income you should not be in debt except for a car and home. If I made that kind of money I would save half my income and put it into a Roth IRA. But, get onto Suze Orman's website, she'll have info for you.

Answer 3

Sit down and total up all your HOUSEHOLD bills including the gas you use to get back & forth to work. Now look at each bill and see if it can be reduced. For example, how much does your heating bill cost you? How about phone cable and electric bills? Can they be reduced? What do you buy in the way of groceries? Cut out most of the junk and only buy nessesities. How often do you go out to eat? How many toys do you and your wife own? What are you paying for the cost of your cars? Increase your deductible on your insurance. Put 10 - 20 per cent of your weekly pay into some sort of investment or retirement account. Keep you and your wife on a weekly allowance and stick to it.

Answer 4

Marriage is the unique dance of finding out how to give and take.

A common problem is that one of the spouses assumes the role of bill payments. Sounds like you earn the money, and she distributes it to the family --- which is the primitive what most of the 3rd World Country Ways of bonding a family.

This method is a great system when transportation, communication, and income was like it was in rural area's ... however, in today's fast paced lifestyle we create, many are finding that this doesn't work for the family.

So, in many way's you're a pioneer to find a compromise with your spouse to find a working solution. Expect failures, and successes ... however, when you find what is a success be sure to mix it up when it stagnates to keep the marriage beat pumping. In many ways you can treat it as a company audit ... but remember to COMPROMISE when conducting your audits. Good leaders listen, serve, and let their group run when they've got the ball (Marriage is asking you to be leader of the family)

Remember ... the "Cost of Living" is very different ... so $30.00/ hour is barley surviving in San Francisco while it is considered very well to do in Montana.

Answer 5

dude you have to sit down and work on a budget. Write down everything you spend your money on. Set aside a certain amount of spending money each time you get paid and stick to it. Take it out in cash so you know once it's gone you don't have anymore until you get paid again.

A certain amount of your paycheck should go into savings, automatically. Round your bills up to the nearest dollar and then at the end of each month that extra also goes into savings.

The most important thing is to realize whether you're a saver or a spender. If you're a spender, don't worry you're not going to cure it BUT you have to give yourself spending money and stick to that amount. If you come into extra money here and there, have fun with it.

Answer 6

between you and your wife, create a monthly budget that includes your rent/mortgage, utilities, food, gasoline, and whatever other expenses that are incurred on a monthly basis. figure out how much money per month is allotted for each category, then subtract this from the amount of take-home pay you get each month. the remainder is what you have left to either save or use for fun.
if you are unsure of how much you spend in each category, start saving receipts and bill stubs...it will be a lot of work if you haven't done this before, but this way you'll know where all your money goes each month and what you have to potentially save.

Answer 7

Anyone who makes that much should have no excuse for not being able to save plenty of money. That is of course assuming you don't have a gambling problem. If your wife is the one managing your money, bad idea. Take control of your cash and pay attention to your expenses. Live within your means. If she objects, tell her to go "you know where."

Answer 8

most people just spend above their means. they have no control and just buy buy buy without a thought to the consequences that could come up. we used to live at our means. we never spent more than we made but we never saved anything. we recently started putting money into an ira so we'll have money to retire on. you just have to make a conscious decision to not buy the things that you want until you have taken care of your needs as well as saved some for later in life.
good luck!

Answer 9

Blaming your wife??? $30 an hour isn't a whole lot of money. Try making some real money, stud.

Answer 10

Saving money is like losing weight, you have to make more than you spend.
Losing weight you have to eat less and burn more.
Its hard to do. Write down what you are spending your money on that way you will have an idea of where it is going.
The only time we saved money was when both vehicles and our house was paid for.